Lester, Alabama Property Taxes
The median property tax rate in Lester, AL is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Lester at $130,300, the typical annual property tax bill is $451, which is well below the national median of $2,690. Property taxes in Lester are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Lester's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lester or another part of Limestone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lester, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$456
$423
Ownwell’s Lester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lester to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lester, Alabama
Property taxes in Lester, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lester is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Lester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lester estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lester's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is 0.66%, while the lowest median tax rate is 0.14%. Understanding how these cities compare with Lester provides valuable insights into the varying tax landscape across Limestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lester Tax Rate
0.35%
Average Limestone County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lester, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35647 | 0.15% | 0.27% | 0.35% | 0.43% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Lester, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lester, Alabama. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Limestone County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lester, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Lester is $130,300, with annual tax bills ranging from $256 at the 25th percentile to $1,073 at the 90th percentile. The zip code 35647 stands out for having both the highest and lowest median tax bill at $451.
Average Lester Assessed Value
$130,300
Average Limestone County Assessed Value
$202,600
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lester, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35647 | $34,500 | $79,700 | $130,300 | $213,700 | $340,480 |
Source: Ownwell
Property Tax Bills Across Lester, Alabama
In Lester, Limestone County, AL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Lester is $130,300. Property taxes are influenced by various factors including the assessed value, local tax rates, and applicable exemptions. For instance, the median property tax bill in Lester is $451, which is significantly lower than the national median property tax rate of 0.99%. Homeowners in Lester can expect their tax bills to vary, with the 25th percentile at $256 and the 75th percentile at $758. At the higher end, the 90th percentile tax bill reaches $1,073. These property taxes contribute to local services and infrastructure, impacting the overall cost of homeownership. Understanding these factors can help homeowners in Lester better anticipate their annual property tax expenses and plan their finances accordingly.
Average Lester Tax Bill
$451
Average Limestone County Tax Bill
$871
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lester, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35647 | $82 | $256 | $451 | $758 | $1,073 |
Source: Ownwell